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India-Nepal sign ten agreements

On 24 November 2014, Prime Minister Narendra Modi held talks with his Nepalese counterpart Sushil Koirala on key strategic issues after which ten agreements, including a pact on USD 1 billion assistance to Nepal, were inked.

A host of strategic issues, including defence and security, were discussed during their talks that lasted for nearly 40 minutes.

“Projects that have been in limbo for 25 years are moving forward. I feel very satisfied,” Mr Modie said after inaugurating the trauma centre built by India at Kathmandu’s Bir Hospital.

India and Nepal also signed the Motor Vehicle Agreement under which permit would be given to vehicles to ply on designated routes in each other’s country. They also inked three twin-city pacts between Kathmandu-Varanasi, Janakpur-Ayodhya and Lumbini-Bodh Gaya.

Other agreements singed were:

MoU on India’s assistance to Nepal in theconstruction of the National Police Academy, MoU on Tourism, MoU on Traditional Medicines and MoU on Youth Exchange.

A MoU was also signed on a project development agreement over the 900 megawatt hydro-electric project on the Arun river in Nepal.

India and Nepal also lifted a decade-long ban on carrying of ₹500 and ₹1,000 Indian bank notes by their nationals while visiting each other’s countries by setting a maximum limit of ₹25,000 for the high denomination currency, benefiting tourists.

India also gifted Nepal mobile soil testing lab that will boost soil health monitoring and adoption of best agricultural practices.